Semtech upped at Merrill on hope for CEO-led turnaround

AudeLagorce

LONDON (MarketWatch) -- Merrill Lynch upgraded semiconductor firm Semtech Corp
SMTC, -1.83%
to neutral from sell, citing hopes that the new Chief Executive Mohan Maheswaran could bring about a turnaround story. still, the broker told clients that until the improvement in earnings power becomes more evident, it believes the stock will trade sideways.

Intraday Data provided by SIX Financial Information and subject to terms of use. Historical and current end-of-day data provided by SIX Financial Information. All quotes are in local exchange time. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. Intraday data delayed at least 15 minutes or per exchange requirements.